Events Leading to Appointment of Administrators

On 29 April 2024‚ at 11.51pm AEST‚ the Lessors of the Aircraft leased to the Company issued notices to the Company terminating their leases in place for the aircraft.

Amongst various other requirements‚ these notices required the Company to immediately cease to operate the Aircraft and keep the Aircraft grounded and safely secured.

Whilst these notices were preceded by Event of Default Notices issued on 17 April 2024‚ the Directors of the Company have advised the action taken by the Lessors was not foreshadowed or expected.

As a result‚ the Company’s board met on the morning of Tuesday 30 April 2024 and resolved to appoint Richard Albarran‚ Kathleen Vouris‚ Brent Kijurina‚ and Cameron Shaw as Administrators of the Company.

Ongoing Trade of the Business

Following the appointment‚ the Administrators have been in constant discussions and meetings with the Company’s management team and key employees to understand the trading operation and cashflow requirements of various scenarios.

The Administrators have also been in meetings and discussions with key industry participants within Australia and overseas with regard to the current status‚ and a way forward for the Company and it’s operations.

The largest consideration for these parties is the current status of the Aircraft‚ which currently remains grounded.

The Administrators have had a number of discussions with the Lessors.

As a result the grounding of the fleet will continue at least from Friday 3 May 2024 to Tuesday 7 May 2024. Customers with bookings during this period are advised not to travel to the airport unless they have alternative travel arrangements.

Meetings between the Administrators‚ the interested parties and the Lessors are continuing daily.

During this time‚ whilst the Aircraft remain grounded‚ and there is insufficient cashflow and funding‚ the Administrators are unable to recommence full operations.

The Administrators also have no alternative but to stand down the majority of the employees of the Company‚ pending the outcome of these above ongoing discussions.

Some employees will continue to assist the Administrators with their efforts.

The Administrators appreciate this is not the news that the employees‚ customers‚ and other key stakeholders would like to hear however there is no alternative course of action available to the Administrators at this point in time.

The Administrators will continue to work on the above meetings and endeavour to find the best possible solution for all stakeholders.

The Administrators have and will continue to liaise with government bodies in respect to the above.

Financial Position of the Company

There have been a number of requests for details regarding the financial position of the Company.

This information remains commercially sensitive‚ and subject to ongoing investigation‚ and cannot be made public at this point.

Support for Customers

As previously advised the Administrators have established a dedicated phone line for all customer enquiries.

That number is 03 8678 1600 and is available 7am to 10pm AEST.

Refunds

The Administrators confirm that the processing or issuing of refunds from the Company cannot occur at this time.

Customers who have had their flights cancelled should contact their financial institution to discuss available options.

Customers may also wish to liaise with any insurance providers‚ in the event they have travel insurance for the bookings.

Email contacts for each class of stakeholder

We will continue to provide these email addresses so all stakeholders can contact the Administrators office.

• bonzaemployees@hallchadwick.com.au
• bonzacreditors@hallchadwick.com.au
• bonzasuppliers@hallchadwick.com.au
• bonzalessors@hallchadwick.com.au
• bonzacustomers@hallchadwick.com.au